CAD/CHF 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Sell Neutral Neutral
Stochastic (5; 3) Buy Sell Sell
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The Canadian Dollar is gaining value against the Swiss Franc in the short-term, narrow ascending channel. The pattern started to form after the Loonie appreciated by 73 pips and, thus, broke the preceding ascending channel. Most likely the current pattern will not sustain and no more surges will follow, as the pair has reached the upper trend-line of the medium-term descending channel, which is supported by the 61.8% Fibonacci retracement level at 0.7362. The relevant retracement levels are measured by connecting the 2016 late low and high levels. On the other hand, due to the narrowness of junior pattern, any shock attributed to fundamental events might easily push the pair beyond the boundaries of the dominant channel (at least in the short run).

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